Piper High School student wins national Budget Challenge, surprised with a $20,000 scholarship

Seventy-five percent of teens say that learning more about money management including budgeting, saving and investing is one of their top priorities. However, only seven states require high school student testing of personal finance concepts, which means teens across the country are graduating without basic financial skills — like how to pay bills and save for the future.

“It’s a lot harder than I expected. Things add up quickly,” said King. “You spend a lot more money a month than you expect. My parents obviously know how much they spend on food and utilities but I don’t. So, having that at least you know a little bit of what a normal person would go through. It’s a lot.”

King had advice for other students completing the program: “Don’t be too reserved with your 401(k) balance. All or nothing.”

But when asked if he had advice or pointers for his parents, King demurred. “I don’t think I’m that qualified.”

H&R Block Budget Challenge helps students become real-world ready

The H&R Block Budget Challenge, a national real-life simulation personal financial education program, helps students master real-world budgeting and personal finance decision making – crucial skills all teens need after graduation.

According to King’s father, Brandon King, one of the benefits of the program for his son was seeing how his choices impacted outcomes.

“He was able to do things and then see where his ranking was. He could see the ups and downs. It really opened his eyes. He learned a lot more than I think he realized he did,” said Brandon King. “He had fun doing it, he enjoyed and had fun doing it as he was learning.”

The H&R Block Budget Challenge is an online game that replicates an adult’s financial life, requiring students to pay bills, manage expenses, save money, invest in retirement and pay taxes as if they were recent college graduates. Participating students from across the nation also compete for college scholarships through the program.

“Everyone who participates in the H&R Block Budget Challenge finishes a little bit more prepared for adulting. And that’s a very good thing. But a handful of students walk away with something even bigger: cash for college,” said Kelli Ramey, H&R Block’s vice president of advertising. “When we saw that one of the 10 best students in the entire nation was in our hometown, we had to come and meet him.”

This school year nearly 180,000 students participated in the program, bringing the three-year participant total to almost 425,000 high schoolers from all 50 states.

What’s next for King

King wants to go to the University of Utah to study computer science and cybersecurity. Both King and his parents cited concerns about the higher tuition costs for an out-of-state school. With the $20,000 scholarship for his performance in the Budget Challenge, they expect he won’t have to worry about his first year out of state.

“We didn’t want him to go into debt his first year. This helps him go to the college he wants to get the degree he wants,” said Brandon King. “It’s great. He worked very hard on this.”

“I guess I just feel pretty lucky and excited that I don’t really have to worry the first year, I can focus on other things,” said King.

Sharita Hutton and Lisa Patterson also contributed to this article.

Editor’s Note: As of 2019, the H&R Block Dollars and Sense and Budget Challenge programs are no longer active. Learn more about H&R Block’s community impact platform, Make Every Block Better, which seeks to improve the heart of every community through supporting small businesses and revitalizing neighborhoods.

H&R Block Budget Challenge winner Zachary King (second from left) looks at the autographs on the soccer ball Tim Melia, Sporting KC goalie (right) presented him. King’s mother, Sherrie (second from right) and twin brother, Matt (left) look on.

H&R Block Budget Challenge winner Zachary King (second from right) looks at the autographs on the soccer ball Tim Melia, Sporting KC goalie (left) presented him. King’s mother, Sherrie (right) and twin brother, Matt (second from left) look on.

Sporting KC goalie Tim Melia, Matt King, Zachary King, Sherrie King and Brandon King celebrate after Zachary’s surprise $20,000 scholarship for winning H&R Block’s Budget Challenge.

Sporting KC goalie Tim Melia, Piper high school student and Budget Challenge winner Zachary King and H&R Block vice president of advertising Kelli Ramey celebrate a hometown winner in H&R Block’s Budget Challenge.

H&R Block Budget Challenge winner Zachary King takes questions from the press after a surprise event in the library unveiling his $20,000 scholarship.

Sporting KC goalie Tim Melia surprises H&R Block Budget Challenge winner Zachary King with an autographed soccer ball.

wSporting KC goalie Tim Melia surprises H&R Block Budget Challenge winner Zachary King with a personalized jersey.

Sporting KC goalie Tim Melia surprises H&R Block Budget Challenge winner Zachary King with a check for $20,000.